Indian Overseas Bank, (IOB) will set up 75 ATMs in Income-Tax Department’s premises in different locations. It will set up these ATMs in the Ayakar Seva Kendras (ASKs) of Income-Tax Department. The bank has inaugurated first such ATM in Mangalore on March 26, 2012.
IOB had made a request to the Central Board of Direct Taxes to set up ATMs in the premises of income-tax department in the country. The department has made available sites for setting up of IOB ATMs in 15 locations in the country. As and when the department makes available sites, the bank will set up its ATMs in other locations also. The bank aims to complete the installation of ATMs in the remaining locations in the next three to four months.
IOB has reported a fall of 53.26% in its net profit of Rs 108.27 crore for the quarter ended December 31, 2011 as compared to Rs 231.66 crore for the same quarter in the previous year. Total income has increased by 45.25% from Rs 3452.86 crore for Q3FY11 to Rs 5015.33 crore in the quarter under review.
